Noting that Office Depot’s share price has lagged its competitors like Staples (NASDAQ:SPLS) and Office Max (NYSE:OMX), Starboard Value called on the company’s management to slash costs and sell assets.

Shares of Office Depot climbed more than 5% in Monday afternoon trading.

Starboard noted the the office product retailer had made some moves to address its sluggish performance, but called for more dramatic efforts.